October 14 | Marketplace

Here's Exactly What Will Happen If We Default On Thursday | by Sabri Ben-Achour

Marketplace — Here's the worst-case scenario: The U.S. Treasury misses a payment. As markets open from Tokyo to New York, “you’re gonna see stock markets sell off,” says Eric Stein, co-director of global income with investment management firm Eaton Vance. As markets fall, they wipe out a lot of wealth along the way -- think about your 401(k). In fact, Stein says markets would react before any payment is missed. And that market movement alone would be dramatic enough to force politicians to act.